Denis O'Brien has further increased his declared stake in Independent News & Media (IN&M) ahead of the company’s annual general meeting (agm) in two weeks time.
In a statement to the Dublin market this morning Mr O'Brien said he has increased his shareholding by 1 per cent to 23.6108 per cent, up from his previous shareholding of 22.6725 per cent.
This is the second time this week Mr O'Brien has increased his stake in the company.
On Monday Mr acquired some 13.3 million IN&M shares a cost of around €27.66 million based on a closing price of €2.08.
Having held only 3 per cent of the company at the start of 2007, Mr O'Brien has rapidly built up his shareholding. He has not yet indicated whether he intends to make a bid for the media group.
Mr O'Brien has been declared a "dissident" shareholder by the board of the IN&M.
At 12.10pm in Dublin IN&M shares were trading at €2.21, up 1.3 per cent.